30/12/2023. Trading on the Indonesian Stock Exchange (BEI) 2023 officially closed today. Shares of PT Bank Negara Indonesia (Persero) Tbk or BNI experienced positive strengthening throughout the year.
Until the closure of trading on the Indonesian Stock Exchange on December 29, 2023, the stock of the red-plate issuer bank with BBNI code was closed at IDR 5.375 per sheet or up 16.5% by Year to Date (YTD), with a market capitalization value of IDR 200.5 trillion.
This feat was accompanied by an increase in the company's market capitalization to IDR200.5 trillion, which is considered one of the company's greatest successes in its history. Supported by a net foreign buy of IDR3.5 trillion, the equivalent of 1.75% of the overall market cap.
This ratio will be the best on the Indonesian Stock Exchange in 2023, and BBNI will be the Top 7 issuers with the highest level of trading liquidity (turnover), total trading value reaching IDR 63 trillion.
BNI Finance Director, Novita Widya Anggraini, stated that the strengthening of BBNI shares was due to investor confidence in the company's performance throughout the year.
“We are grateful for the strengthening of BBNI shares throughout this year. This will encourage us to record better performance in the future," she said.
Novita emphasized the company's commitment to achieving increasingly healthy and sustainable profitability, providing optimal value for all stakeholders, especially shareholders.
"In consensus, analysts are targeting the fair value of BNI shares at around IDR 5,800 per share, with the expectation that BNI's share price will continue to increase in line with healthy financial performance," she added.
Novita explained that 2023 was a challenging period for BNI in maintaining performance in the capital market. Despite facing global economic challenges, geopolitical conflicts and increasing interest rates, BNI has prepared strategic steps to maintain performance momentum and investor confidence.
"We are consistent in carrying out a transformation that is oriented towards strengthening fundamentals, as can be seen from improving the Cost of Funds and reducing the risk profile. We also focus on the business transformation of subsidiary companies, as is being implemented at BNI Finance and Hibank," she added.
As for September 2023, BNI posted a profit of IDR 15.8 trillion, growing 15.1% YoY. Profit growth was driven by credit distribution which grew 7.8% YoY to IDR 671.4 trillion until September 2023.
This credit growth performance was driven by expansion in the blue chip corporate, consumer credit and subsidiary business segments.
BNI's asset quality also continued to improve, with the NPL ratio decreasing as of September 2023 to 2.3% from 3.0% in the same period last year, and the LaR ratio improved from 19.3% in September 2022 to 14.4% in September 2023.
"We are committed to posting quality growth to produce optimal returns for shareholders in the long term," she concluded.